Implenia secures higher credit
Implenia AG has renewed a syndicated loan expiring at the end of August 2017 at an early stage and on improved terms. It was increased by CHF 150 million to a new total of CHF 650 million and the term was extended until September 2020 with the option of extending the contract twice by one year.
The loan, which will be provided by the existing banking syndicate led by UBS, consists of a cash limit of CHF 200 million and a CHF 450 million deposit limit.
The renewal has enabled the company to secure long-term financing on better and more flexible terms, Implenia writes in a media release. The early renewal was achieved against the background of the good market environment and the acquisition of Bilfinger Construction and underpins Implenia's attractive risk profile. (ah)
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